Mining Explorers 2017: Klondike Gold Corp.

Klondike Gold Corp. is finding hardrock gold in the hills above the legendary Yukon creeks that have produced more than 20 million ounces of placer gold since the stampede to the Klondike in 1898. The company’s 527 square kilometers (203 square miles) of mining claims blanket a 55-kilometer- (34 miles) long swath of the legendary Klondike Gold District. After restructuring in 2014, the company has been systematically exploring this expansive property, work that has led to the discovery of two intriguing gold zones – Lone Star and Nugget. One hole drilled at Lone Star in 2016 cut 37 meters averaging 2.4 grams per metric ton gold and another drilled at Nugget cut 14.3 meters of 5.1 g/t gold. Lone Star, which lies above the confluence of Bonanza and Eldorado Creeks, was the primary target of a roughly 75-hole drill program carried out this year. This drilling targeted a 1,950-meter stretch of the newly recognized Bonanza fault, which is interpreted to be a significant structure for gold mineralization. LS17-81, the first hole of this year’s program, cut 41.1 meters averaging 2.1 g/t gold from surface. LS17-82, a direct 25-meter undercut of LS16-58, cut 40.9 meters averaging 2.4 g/t gold from a depth of 10 meters. LS17-91, drilled about 525 meters east of hole 81, cut 30.7 meters of 1.6 g/t gold. By mid-September, Klondike Gold had traced gold mineralization for 2,000 meters along the Bonanza fault.